The International RegTech Association (IRTA) has appointed a chief executive officer to manage and take responsibility for its global operations and expansion.
Ben Richmond, who is currently CEO and founder of artificial intelligence-driven RegTech firm CUBE, is the first chief executive of the industry body which was formed in June last year.
The IRTA is sponsored and funded by its members and aims to ease and accelerate the evolution of industry through integration and sharing of knowledge.
The executive board consists of chief executives and founders of RegTech firms, as well as RegTech leaders from consultancy PwC and trading technology vendor FIS. It currently operates three advisory councils working in areas of research and development, innovation and adoption for regulators and also the wider market.
According to the associated, Richmond was instrumental to the launch of the IRTA through his role as chapter president for the UK and Ireland, and he is considered an expert in regulatory compliance automation.
Subas Roy, global chair of the IRTA, explained the appointment of Richmond as the first CEO as key to the evolution of the association and its next stage of growth.
“He is ideally positioned to lead the team, given his expertise in financial services, RegTech and business management,” Roy said.
Richmond added experts, practitioners, academics, regulated firms and regulators are eagerly supporting the IRTA’s proposition.
“The IRTA is the only non-profit membership association with a mandate to build a truly global RegTech ecosystem, which will benefit extensively from shared knowledge and experience,” he said.